https://www.cnet.com/news/google-will-pay-fossil-40-million-for-smartwatch-tech/

"We've built and advanced a technology that has the potential to improve upon our existing platform of smartwatches," said Greg McKelvey, executive vice president and chief strategy and digital officer at Fossil, in a release. "Together with Google, our innovation partner, we'll continue to unlock growth in wearables."

The deal is expected to close later this month, though it's unclear what exactly this technology is. Google declined to comment further.